Q2 Market Report

there is always more to the story

Much of the discussion surrounding Santa Barbara’s real estate market has been speculation that the Thomas Fire and 1/9 Debris flow have weakened or will weaken the market in Montecito while Hope Ranch has enjoyed a resurgence in sales and prices.

At a glance, there is some truth to that. As you’ll see below, Q2 and YTD sales in Montecito are both down over last year; the same metrics show that Hope Ranch sales have increased. While that may not sound promising for Montecito, it’s not the full story, and there is some good news forthcoming.

MONTECITO MARKET - Q2

-31.25% Q2

Montecito closed out Q2 with 44 properties sold, down 31.25% from last year.